The last decline Bitcoinu under $ 30,000 raised concerns that next bus stop will be up to $ 20,000, but is such a huge drop possible against the background of current macroeconomic indicators?
Seven potential stages ahead, as envisaged in the new Delta variant, source: Anthony Pompliana, rapporteur
Combat about psychological border $30 000
Yesterday ‘s sale on Bitcoin market (BTC) pushed prices below key psychological support of $ 30,000.
While slipping kryptoměny downhill has led many analysts, including Vijay Nayyar of storm Luno and Jehana Chu of Kinetic Capital, predicting further depressive moves under $ 25,000, Anthony Pompliano offered a contrasting bullish outlook. And given today’s developments, the future is major kryptoměny for the time being, he doesn’t get as depressed as it might seem at first, because over night price Bitcoinu has climbed and is currently attacking $ 32,000.
The founder of Morgan Creek Digital Assets pitted risk markets against concerns about the rapidly expanding Delta variant COVID-19. He noted that governments as a whole would introduce “more aggressive monetary stimulus” programs should the new coronavirus strain expand to the extent of its Alpha version.
“History is not necessarily an indicator of the future, but it is difficult to imagine a scenario where, if we had a second wave of lockdowns, we would not also get more aggressive efforts for monetary incentives,” Pompliano wrote in the newsletter.
“If that happened, we would probably see that all assets would continue to rise and rise.”
Pompliano thus imagines that basket more dollar liquidity would probably come in seven consecutive phases, as the following picture shows:
FOMO is expected in risky markets
Pomplian’s statements appeared as they were Bitcoin the market synchronized with other risky assets around the world on July 20.
For example, all three Wall Street indices – S&P 500, Nasdaq Composite a Dow Jones Industrial Average – recorded the steepest declines in a few weeks. Also gold fell to just $ 1795.12 an ounce, but later recovered to $ 1,812,145 an ounce.
Bitcoin joined the US stock market in tandem on July 20, source: TradingView
Governmental bonds Of the United States have meanwhile gone along with the dollar, indicating that investors are heading to safe haven amid unrest in the global market.
Behind the slump, according to the global media, was a growing list of fears of economic recovery. Delta variant COVID-19 dialogues spread rapidly and relaunched dialogues in several countries over whether authorities should reintroduce lockdowns and limit economic activity.
“It was hoped vaccines [COVID-19] it will guarantee us the final finish, “Mohammed Kazmi, portfolio manager at Union Bancaire Privee, told the Financial Times. “Investors are looking at now United Kingdom and there is a little fear of such an aggressive reopening when the case numbers are still the same high.“
Kazmi added that markets are now moving away from hopes for a V-shaped recovery and are uncertain about the future of their economies.
Pomplian’s comments also appeared as the Federal Reserve flirted with the idea of raising to the end year 2023 its almost zero interest ratesto curb growing inflation.
Several officials central bank He also preferred the idea of tightening their aggressive $ 120 billion a month asset purchase program, though the chairman Fedu Jerome Powell made it clear Fed intends to pursue the policy of quantitative easing on until US economy does not completely recover.
James Wo, founder and CEO of the global blockchain and digital investment company Digital Finance Group, also noted that although Bitcoin industry during the current market cycle encountered the volatility of negative developments, fundamentals that increased the value of its and other markets throughout year 2020 remain intact. Added by:
“Any combination of scenarios that have brought digital assets to this discounted price can be removed from the FUD lists, which would ultimately affect the price of the entire market.”
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